Introduction to private equity : venture, growth, LBO & turn-around capital /

Second edition of iIntroduction to Private Equity/i is more than an update, it reflects the dramatic changes which have affected an industry which is evolving rapidly, internationalizing and maturing fast. What is recognized as a critical yet grounded guide to the private equity industry blends acad...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Demaria, Cyril
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Chichester, West Sussex : John Wiley & Sons Inc., [2013]
Edición:Second edition.
Temas:
Private equity.
Capital-investissement.
BUSINESS & ECONOMICS > Investments & Securities > General.
Private equity
Beteiligungsfinanzierung
Private Equity
Acceso en línea:Texto completo (Requiere registro previo con correo institucional)
Tabla de Contenidos:
  • Machine generated contents note: 0.1. Moving Target
  • 0.2. Consubstantial Lack of Information
  • 0.3. Benign Neglect, Malign Consequences
  • 0.4. Knowing the Devil to Circumvent it
  • pt. I WHAT IS PRIVATE EQUITY?
  • 1. Private Equity as an Economic Driver: An Historical Perspective
  • 1.1. Pooling Interests to Identify and Exploit Sources of Wealth
  • 1.1.1. Identify, Control and Exploit Resources
  • 1.1.2. Leverage Public Policies and a Favourable Business Environment
  • 1.2. Championing Entrepreneurship
  • 1.2.1. No Private Equity without Entrepreneurs
  • 1.2.2. Convert Ventures into Business Successes
  • 1.2.3. Entrepreneurship and Private Equity Form a Specific Ecosystem
  • 1.3. Conclusion: An Attempt at Definition
  • 1.3.1. Negotiated Investment in Equity or Quasi-Equity
  • 1.3.2. Fixed Maximum Term
  • 1.3.3. Implying Specific Risks
  • 1.3.4. With High Expected Returns
  • 1.3.5. Undertaken on Behalf of Qualified Investors
  • 1.3.6. To Support Entrepreneurs
  • 2. Modern Private Equity
  • A French Invention?
  • 2.1. USA: The Foundry of Modern Private Equity
  • 2.1.1. Strict Separation of Public Policies and Public Financing
  • 2.1.2. Separation of Public Endeavours and Private Efforts; the Subsequent Support of the Former for the Latter
  • 2.1.3. Governmental Input: SBA, DARPA and ERISA
  • 2.1.4. Universities, Defence and Disruptive Innovation
  • 2.1.5. Challenges
  • 2.2. Europe: Adapting a Successful Model or Creating its Own?
  • 2.2.1. Governmental Input: Legal Changes, Tax Rebates, Infrastructures and Pan-EU Market
  • 2.2.2. National Champions, Information Technologies and Incremental Innovation
  • 2.2.3. Challenges
  • 2.3. Conclusion: Emerging Markets, Building Castles on Sand?
  • pt. II PRIVATE EQUITY ECOSYSTEM
  • 3. Private Equity: A Business System Perspective
  • 3.1. We Are All Investors in Private Equity
  • 3.1.1. Sources of Capital
  • 3.1.2. Private Equity Investment Rationale
  • 3.2. Organisation and Governance of Private Equity Funds
  • 3.2.1. Private Equity Fund Managers are Financial Intermediaries
  • 3.2.2. Incentives and Fees
  • 3.2.3. Conflicts of Interest
  • 3.2.4. Power, Checks and Balances
  • 3.3. Measuring Performance, Managing Risks and Optimising Returns
  • 3.3.1. Measuring Performance in an Uncertain Context
  • 3.3.2. Managing Risks and Optimising Returns
  • 3.4. Pitfalls and Challenges
  • 3.5. Conclusion
  • 4. Universe of Investment
  • 4.1. Venture Capital: Financing Company Creation
  • 4.1.1. Venture Capital Investment Targets
  • 4.1.2. Actors and Structures
  • 4.1.3. Operational Activities
  • 4.1.4. Challenges
  • 4.1.5. Limits
  • 4.2. Growth Capital: Financing Companies' Expansion
  • 4.2.1. Growth Capital Investment Targets
  • 4.2.2. Actors and Structures
  • 4.2.3. Operational Activities
  • 4.2.4. Challenges
  • 4.2.5. Limits
  • 4.3. Leveraged Buy-Out: Financing Companies' Transmissions
  • 4.3.1. LBO Investment Targets
  • 4.3.2. Actors
  • 4.3.3. Operational Activities
  • 4.3.4. Challenges and Limits
  • 4.4. Other Interventions in Private Equity
  • 4.4.1. Funds of Funds
  • 4.4.2. Targeting the Stock Exchange
  • 4.4.3. Special Situations: Turn-Around Capital and Distressed Debt
  • 4.4.4. Quasi-Equity Instruments (Mezzanine) and Second Lien Debt
  • 4.4.5. Merchant Banking, Investment Banking and Private Equity House Intervention
  • 4.4.6. Secondary Market
  • 4.4.7. Real Estate, Infrastructure and Exotic Assets
  • 4.5. Conclusion
  • 4.5.1. Private Equity is a Financing Solution Designed for a Specific Need
  • 4.5.2. Venture and Growth Capital
  • 4.5.3. Leveraged Buy-Out
  • 5. Process of Investment: A Matter of Trust and Mutual Interest
  • 5.1. Step 1: Preliminary Analysis
  • 5.2. Step 2: Valuation
  • 5.3. Step 3: Negotiating
  • 5.4. Step 4: Structuring
  • 5.5. Step 5: Complementary Due Diligence
  • 5.6. Step 6: Transaction
  • 5.7. Step 7: Monitoring and Exit
  • 5.8. Conclusion
  • pt. III PRIVATE EQUITY IN TEENAGE TIME: TREND SETTING, FADS AND RESPONSIBILITIES
  • 6. Private Equity Evolution: Trends or Buzzes?
  • 6.1. Is Private Equity Going Mainstream?
  • 6.2. Is Private Equity (Still) Creating Value?
  • 6.3. Private Equity: Between Bubbles and Crashes
  • 6.4. Conclusion
  • 6.4.1. There is No Such Thing as ̀Capital Overhang'
  • 6.4.2. Elements of Analysis
  • 6.4.3. From ̀Capital Overhang' to ̀Dry Powder'
  • 7. Private Equity and Ethics: A Culture Clash
  • 7.1. Greed
  • 7.2. Destruction
  • 7.3. Philanthropy
  • 7.4. Transparency
  • 7.5. Self-Regulation or Imposed Regulation?
  • 7.6. Conclusion
  • 8. General Conclusion
  • Private Equity Today and Tomorrow
  • 8.1. Fewer General Partners, but not Necessarily Better Ones
  • 8.2. Core Target: Manage the Volatility of Performance
  • 8.3. Only Valid Leitmotiv: Long-Term Thinking
  • 8.4. Impact of Fair Market Value
  • 8.5. Long-Term Trend: The Attractiveness of Private Equity
  • 8.6. Private Equity: Future Victim of its Own Success?
  • 8.7. Impact of a Better Knowledge of Private Equity
  • 8.7.1. Understanding the Risk and Managing the J-Curve
  • 8.7.2. Innovating through Structuring
  • 8.7.3. Temptation of Co-Investments
  • 8.7.4. Change or Die: The Pressure on General Partners
  • 8.7.5. Regulation: Damocles' Sword Looming over Private Equity
  • Template 1 (Fund)
  • Architecture of the Private Placement Memorandum of a Private Equity Fund
  • Template 2 (Fund)
  • Structure of a Limited Partnership Agreement
  • Template 3 (Fund)
  • Due Diligence Checklist
  • Template 4 (Fund)
  • Quarterly Report Template
  • Template 5 (Company)
  • Non-Disclosure Agreement
  • Template 6 (Company)
  • Business Plan
  • Template 7 (Company)
  • Term-Sheet.

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